Checking account freeze

[Flgranny]

Can a bank freeze your checking account when you file bankruptcy

[justbroke]

There's only one bank that is notorious for doing this: that bank is Wells Fargo. That's all I need to say about that.

[Flgranny]

And that’s my bank

[justbroke]

There are a few general rules in banking, but the first is to never eat where you.... defecate; you get the idea. So never have deposit accounts where you have credit products.

Having wrote that, some have moved direct deposits and their other banking (for demand deposit accounts) to another bank for many reasons. A nice local bank/credit union may be a good spot. I can't guarantee that those local banks aren't crazy as well, but WF is notorious when it comes to this issue.

[Flgranny]

Are credit unions ok

[shipo]

As long as you don't have a credit product with the credit union, opening up a checking account is typically okay and will not get frozen. However, if you have say a credit card with the credit union, and that card A) has a balance, and B) will be included in the bankruptcy, then credit unions typically cross-collateralize the accounts.

[hbodkin]

I had a checking account and credit products with Wells Fargo. My attorney advised me to move the money to another bank before I filed because Wells Fargo would most likely freeze my account.